Archer Limited: Archer secures a 5-year contract extension worth USD 110 million

14 Nov 2025 10:35 CET

Hamilton Bermuda, (November 14, 2025)

Archer has been awarded a five-year contract extension for platform drilling and
maintenance services in the UK with an estimated contract value of USD 110
million. The extension will commence 1st May 2026 in direct continuation of the
current contract. Over the next five years Archer will continue to deliver
drilling, workover, abandonment operations and Maintenance Services for the
customer. The contract award gives us visibility and support our growth plans in
the UK market.

Alexander Olsson, EVP Platform Operations comments: ''We are delighted that
Archer was elected to continue our work for the client. This contract extension
reflects our client's confidence in our ability to maintain safe and efficient
operations across both assets. This extension is testament to the hard work and
dedication of our personnel who have been longstanding in support of both
assets. We firmly believe this extension is a result of Archer's continual
commitment to provide our clients with solutions to improve well delivery,
Integrity and performance''.

For additional information, please contact:

· Espen Joranger, Chief Financial Officer - Mobile: +47 982 06 812, Email:
espen.joranger@archerwell.com
· Joachim Houeland, Manager Treasury and Investor Relations - Mobile: +47 482
78 748, Email: joachim.houeland@archerwell.com

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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